Trading electrical items is the profitable business in Tanzania. And if you put things right this business guarantee 100 percent your money back within a reasonable period of time from setting up.
Electrical products are selling extremely fast, because, Tanzania is the fast growing economy. People both in rural and in the city of Dar es salaam are flocking into building new houses. And electricity is the primary requirement for any houses or business.. Most importantly, only 42% percent of the Tanzanian population has access electricity, with government policy to electrify the whole country up to 2025.
Each home owners are connected with electricity. This drives people to install and use electrical items on their homes or business. The simple truth is, this is a safe business and doesn’t affected by time, even in a bad economy it works well.This is because electrical items are needed in every society.
Material such as wires, switches socket, circuit breakers are required by homeowners business even industrial plants in Tanzania.
The good news about electrical item is they never get spoilt. So you can keep them in the warehouse for even a year without slowing down sales. So if you rack your brain to find the perfect business opportunity in Tanzania .Trading electrical items are business you can profit from.
So what’s the profit margin for this business? and the important requirement set up your own electrical business? Who will buy from you?
So here’s the informative article that’s help you to set up your own electrical business fast and easy any time you ready. Read on to find out?
Profit margin for trading electrical products in Tanzania
When it comes to trading electrical products business, the profit is mouth watering. In my life time, I have seen a guy who started a small shop of electrical items, with limited funds, but his business grows at alarming rates. And today has become a great supplier of electrical materials to big companies in Tanzania
In the market today, you will buy the one bag of switch sockets( one bag contain 5 pieces of switch sockets ) at price of 25,000 Tanzania shilling,
And you can resell at a price of 8000- 9000 Tanzania shillings per piece.
So if you just sell 5 pieces of sockets will make you 5×9000= 45,000
So the profit margin for just selling only one bag of switch socket is 45,000-25,000= 20,000 Tanzania shillings.
If you sell three bags of switches a day, you make profit margin 3×20,000=60,000
In a month you will make 60,000 ×30= 180,000 for just selling only one kind of electrical items. And in your shop you will have multiple items. So you can make more and more money.
Tips to succeed in This Business
1:Choose Market to Concentrate
The market for trading electrical items is diverse, because you can offer your items to home owners, business/companies or industrial plants. But if you’re just starting out, the fair market to start with is homeowners. And you can expand to other markets as your business grows day by day.
2.Find a supplier
There are many suppliers of electrical items in Tanzania, you will make more money if you find a supplier who will source the items and resell at competitive prices to your customer. If you are reliable and trustworthy, you can negotiate a deal with your supplier and get the items on credit, then they will come later to get money which is good if you are starting out with a limited budget.
3.Be knowledgable about electrical products
In fact, your customer will not only want to buy from you. But will need advice of the best electrical items to use. So you should be prepared to answer basic inquiries of your customers.
If you know nothing about electrical items and this business is interest you, there’s a solution. You can hire a street electrician who will guide you and you will be learning as you go until you become an expert on your products.
Stop leaving money on the table
This is the powerful business anyone can start in Tanzania. And you can start small with amount you’re comfortable with. And grow bigger day by day.
So go out there. Make it happen. And you will thank me later.Please if you found this information valuable, or you have anything, leave a comment. I will be glad to get back to you shortly,